Maran and Kal will subscribe for fresh equity shares in two tranches; the company plans to allot 81,680,629 shares in the first and 107,410,479 shares in the second.

The company did not respond to a detailed questionnaire in this regard till the time of going to press.

Sources said the promoters would subscribe to a fresh issue of 189.1 million warrants, to be priced according to the Securities and Exchange Board of India’s formula for preferential issues.

These warrants will convert to equity shares in two tranches -- in April 2015 and April 2016.

The sources added so far, the promoters had infused about Rs 1,300 crore (Rs 13 billion) into the airline.

Maran had acquired SpiceJet for Rs 750 crore (Rs 7.5 billion) in 2010 and an additional Rs 550 crore (Rs 5.5 billion) was invested later, by way of equity.

Meanwhile, the airline has said its management had decided not to add additional capacity this financial year.

Following a cut in capacity in the quarter ended June this year, the level would remain unchanged through the next two years, said the company’s annual report.

Last year, SpiceJet had inducted seven Boeing 737NGs and redelivered one aircraft, taking its fleet size to 58. One domestic (Dharamshala) and one international airport (Muscat) was added to the airline’s network.

In its new network and schedule (from March 30, 2014), 26 routes and seven stations were discontinued, along with capacity reduction on 14